Submitted by Anonymous on Sat, 08/28/2010 - 09:14
Posted in
We signed Short Sale document and Listing agreement with our realtor on July 8th. He did not submit them to the bank until August 23rd (3 days before the Foreclosure Auction). He notifies on August 26th that he received an Offer to Purchase on August 16th and he never made us aware or presented the offer to us the sellers.
Who soon is the realtor suppose to present us with the documented offer?
We terminated our Exclusive listing agreement with our realtor.
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Editor's Response
245 Code of Massachusetts Regulations 3.00(11)(d) states: Conveying Offers. All offers submitted to brokers or salespeople to purchase or rent real property that they have a right to sell or rent shall be conveyed forthwith to the owner of such real property.
Although the term 'forthwith' is open to interpretation, ten days doesn't seem right.
As a real estate
As a real estate professional, I personally notify the seller immediately upon reeipt of an offer to purchase. Immediately generally means a telephone call at that moment if it is an appropriate time of day. If it is too late or too early, I will send an e-mail and follow-up by telephone as soon as the tie of day becaomes appropriate. Ten Days is far too long. I would reccommend followig up wih the Real Estate Board in your region. A list of Massachusetts boards can be found at the Massachusetts Association of Realtors website.